There has been a positive start to the 2024 beef trade with most processors increasing quotes by 5c/kg to 10c/kg to get sufficient supplies for the early January trade.

Sources within the industry say that it was a bumper holiday period for beef sales with no reports of any Christmas overhang in the market.

This has meant that factories have started 2024 purchases in a bullish mode, with all plants anxious for cattle.

Cattle kill

Bord Bia has estimated the 2024 cattle kill could reduce as much as 30,000 head following on from a 40,000 head reduction in 2023.

Bullocks saw an almost 20,000 head reduction in 2023, along with young bulls reducing by almost 16,000 head.

The 2023 cow kill rose by almost 5,000 on the back of increased culling of dairy cows at the back end of 2023.

Exporters are reporting increased demand from European and third-country markets for Irish cattle in 2024

Carcase weights have also fallen, reducing the volume of beef produced per animal slaughtered.

For the period from January to October 2023 bullock carcase weights reduced by 4kg to 347kg.

Average heifer carcase weights reduced from 312kg to 309kg, while cows reduced 5kg from 302kg to 297kg. The reduced carcase weights are the equivalent of 8,000 fewer bullocks and almost 5,000 fewer heifers in the system in 2023.

Meanwhile, 2024 is pointing to be another very positive year for live exports with a large load of weanlings set to be loaded on to the livestock carrier, the Ganado Express, next week.

This load is destined for the middle eastern market. This follows on from a load of heavy bulls departing from Foynes Port this week destined for Algeria.

Exporters are reporting increased demand from European and third-country markets for Irish cattle in 2024.